Universal Electronics Inc. announced that Paul Arling will retire as Chief Executive Officer on April 30, 2025, concluding nearly three decades of leadership. Mr. Arling will continue to serve as a consultant until June 30, 2025, and will remain on the board through his term, which ends at the 2025 Annual Meeting of Shareholders. This planned transition marks a significant change in the company's executive leadership.
The Board of Universal Electronics is conducting an extensive executive search, actively interviewing both internal and external candidates to find Mr. Arling's successor. Lead Independent Director Bill Mulligan acknowledged Mr. Arling's contributions, noting his role in elevating UEI to a global wireless device control leader and fostering innovation, including over 150 patents. This ensures an orderly transition process.
In conjunction with the announcement, the company confirmed its previously issued financial guidance for the first quarter ended March 31, 2025. This confirmation provides investors with assurance regarding the company's near-term financial expectations amidst the leadership change. The continuity in guidance aims to mitigate uncertainty during this executive transition period.
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